tv [untitled] February 27, 2011 8:00am-8:30am PST
just to be mindful for everyone's time, we will go for about five more minutes. >> my name is david. i am an internet or entrepreneurs. in general, to the lenders, what type of vanity do you traditionally see approach you for loans, an llc, corp., and who is liable, for whose borrowing the money? >> as a micro lender, we expect the principles, the corporate form, to provide guarantees. >> personal guarantees. >> the same. 20% ownership in the company. [inaudible]
>> [inaudible] >> i heard something about sba guaranteed loans. maybe i missed something. does that have to do with the sba guaranteeing the entity? >> the question on the sba guaranteeing a entity as the order of the business, whether it is a corporation or partnership, for any small business lending, you should expect to be guaranteeing that long personally. as a small-business owner, from a lender's point of view, we want to see that you are as invested in the business as you are asking the bank to be. the idea that non recourse loans, the way you describe it, loans that you get without
having yourself personally liable is not the way it works. you should assume you will guarantee the loan regardless of the structure of your business. the good news, though, for businesses like you are describing, internet business, is that the capital requirements for that type of business is generally small. you are able to get yourself further along and share in revenues with a smaller amount of credit need. that is where we see a lot of businesses and personal service or internet business get started, and generate revenues and be able to show growth without needing any capital, like a brick and mortar business might. >> my name is terry said. i have a retail business in san francisco for 22 years. i have a 5 04 -- 504 loan.
it took me three years to get. we need more capital. i tried to get a line of credit from wells capital. i was decline. where does someone like myself go? i have a loan, i need additional funding. >> did you try through the sba? >> i already have an sba loan. i went to wells fargo for a line of credit and they would not give me one. >> i can speak to you about it. when we look at funds that are needed, the biggest thing we look at our cash flow. i can address that with you. unless there is an issue, at that point -- [inaudible]
>> let's talk, ok. >> i have a couple of more questions. i know that the panelists have agreed to stay after for those who have specific questions. i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of
50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a
small business loan. that is how we started our tenderloin office. >> opportunity fund is a certified cdfi, so we are providing a benefit to low and moderate-income communities. he is the city establishing support for new cdfi's? >> mark wanted to address that, in support of cdfi's in the city. >> we have a wealth of partners in the city. s.p.a. is just now rolling out a program for r -- will be the case by the summer.
let me get one last point and on the question about relationships to lenders. the question was, do have to have an account with a bank in order to get a loan? may answer is no, but the real answer to it is certainly want to do that. one of the things we see as an important thing for you, as a small-business person to establish a relationship with a lender on a variety of levels before you look for funding. part of that is opening an account with them, letting a lender know about your business, understand your business, talk to them as you are growing your business. when the economy is strong, all lenders are shopping for transactions. in times are tough on credit, you want to rely on those deeper liberation ships with your lender. you want to develop a relationship with a lender. it is the case where you want to open up an account, while to
have another bank services that you want to have a relationship with your lender with it because when you go to them for any loan requests, you want them to know about your business and feel like they are a partner of yours, not just that you are shopping them. if you are shopping, you are just looking for the best deal from them, rather than a long- term relationship. >> i want to thank everyone for coming. hopefully, you have all signed up for our updates. we are going to be hosting these on a regular basis. the next two coming up will focus on becoming a government contractor, how your small business can partner with the government. the next one will also be on how to grain your business, with tax -- green your business, tax credits available with that.
for non-profit, charitable organizations, we have a workshop coming up. that is helpful for those of you who are looking to access the committee on a durable basis. >> also, on behalf of leader pelosi, i want to thank our panel and her staff. we are tenants in this building. i apologize for the security situation that happened upstairs. if you have concerns about it, please come and see me. i would like to convey those to the landlord here so that it does not happen again. thank you.
as the roots of the treat, and the greatness and health of the tree depends on the death and health of its routes. when we do not honor our ancestors, we become like trees without roots. there is an unbroken continuing between the realm of the living in the realm of the dead in african culture -- an unbroken continuum. the spirit pervades the everyday world of the living. in a community such as this one, we begin by honoring the ancestors, and we pour libations to honor them, and that is what rashid is going to do. we pur water -- pour water, the primary ancestral offering, the source of life in the universe.
it is associated with the womb of creation and with the fountain of life. in the spirit of honoring the ancestors, we say, praises to the ancestors of this land, the keepers of this land. praise be. praises to the ancestors of the middle passage. praises be. praises to all of those whose courage, strength, determination, perseverance, blessings, grace, blood, sweat, tears, and sacrifices have uplifted us, our community, our people. i want you to take a moment and out loud and with passion and with gratitude, call up the name of those whose shoulders you stand upon. praises be.
praises be. praises be. praises be. praises be. praises be. praises be. we call -- praises be. we call upon you all to join us in this commemoration of the past and join us in the celebration of the youth leaders of yesterday and today and those of tomorrow. we ask you to participate as we ourselves become more energized and inspired to follow their example and to take action, to be healers, peacemakers, social justice activists. we call upon you, great ones, to ask that you give us your blessing. bless all of us, and especially, bless our youth. bless their bodies, their spirits, their minds.
we call upon you, ancestors, to ask for your guidance for all of us and especially our youth. especially our youth. guide their feet, their heads, their hearts. be to their left, they're right, above, below, in back of them. we ask that all of those who are present today be more inspired, more informed, and more hopeful and more blessed and more ready to take action when they came. >> i want to thank sonya davis, one of our peacemakers in the community. a healer, civil rights attorney, and she has been a member of the restorative justice for youth program in oakland. linda.
[applause] >> good afternoon, everyone, and welcome to the koret auditorium of the san francisco public library. i'm a member of the african- american interest committee here at the library. it is our hope that you will be profoundly moved and inspired by what you hear and see today. social justice is concerned with equal justice, not just in the court, but in all aspects of society. this concept demands that people have equal rights and opportunity. everyone, from the poorest person on the margins of society to the wealthiest, deserves an even playing field. every race, every color, every culture. what happened in 1955 is not unlike what is exploding out of the headlines today. it was a young person's death that started the uprising in
tunisia. it is young people on the front lines in egypt. slowly but surely, the young people in sudan are following suit and rising up against an oppressive government. it was a young girl who stood still when she was ordered to give up her seat to a white woman, violently taken from the bus, pushed into a police car, ridiculed on her way to the station, and shot inside a jail cell until she was bailed out hours later -- shut inside a jail cell until she was bailed out hours later. hers is a powerful story, along with that of a man who was racially profiled and accused of a crime he did not commit. i would like to invite ronald, who garner's several proclamations from various officials, and we would like to present them to ms. claudia -- to ms. claudette colvin.
we want to thank him for his efforts in securing these proclamations. if ms. colvin would come up as well. >> it is an honor to be asked to make these presentations. the elected officials represented here are trailblazers themselves. many of them have been the first in their community to hold office. for example, ed lee, the first chinese-american to be appointed mayor in san francisco, is represented in this group. so is our congresswoman, nancy pelosi, the first woman ever to become speaker of the house in the history of the united states. [applause] tom amiano, who has been a historic figure and trailblazer, coming from the lesbian, gay,
bisexual, transgendered community. [applause] also, our newest elected official, supervisor cohen, with her election last november at age 32, is the youngest african-american ever to be elected to the board of supervisors. [applause] she is now san francisco's highest-ranking elected official who is african-american, one of three women on the 11-member body, and the only african- american on that 11-member body. let me read -- since we are short on time -- the letter from the united states senator, dianne feinstein. it reads, "dear mrs. colvin, it is a pleasure for me to join your friends, family, and colleagues in recognizing you for all the work you have done in the fight for civil rights. thank you for dedicating your
life to the cause of equality. you have given so much to this country. when you refuse to give up your bus seat on march 2, 1955, it ignited a spark within montgomery, alabama, that helped begin the process of change. the landmark united states supreme court case that eventually ended segregation on all buses within this country could not have been achieved without your valiant efforts that began with your testimony against the montgomery public transportation system. i commend you for your passion, courage, and dedication. very few people could have demonstrated the level of conviction you showed at the young age of 15. young people today view you as a role model and as an important figure in the history of the civil rights movement. as united states senator representing the people of california, i commend your
outstanding service to this country. i wish you good health and happiness in the years to come. sincerely yours, diane feinstein, united states senator -- dianne feinstein, united states senator." [applause] >> i don't know what to say. i'm so overwhelmed. it really feels good to get some recognition from the politicians and top politicians. i'm glad that i lived to see this day. [applause] and i want to thank all who have made this day possible, including all the people at the library that put this event together.
thank you very much. [applause] >> now, i would like to introduce the driving force behind this program, and award- winning, internationally known storyteller, recording artist, and educator. she is a truth teller and an artist for social change. she has made it her life's work to tell history through the words of its off forgotten witnesses. zero two one-women shows -- she wrote two one-women shows. she told the true story of the 1955-1956 montgomery bus boycott through the eyes of four women. please help me welcome her.
>> i guess you are wondering why i'm standing here. [inaudible] my teachers have been teaching me a lot about standing up for what is right. it was a week right after negro history week. i like negro history week a lot because we learn about people who make a difference. that is what i want to do. teh white -- the white section was empty, and the colored section was full, so i sat in the middle, the seat on the left, the last one in the middle. i was not thinking about anything in particular. i had a chocolate candy bar, and i was looking out the window.
an older girl sat next to me. i continued looking out the window. more people got on the bus, and some more color and some were white, and soon, no more seats were available. colored folks started getting up, and white folks started taking their seats. i just stared straight ahead. "make light on your feet." other people got up, but i told myself that i would just stay seated. folks started staring at me. you know why -- you know, white folks. [laughter] "she knows where she belongs." open " i hope she is not one of them troublemakers --"i hope she
is not one of the troublemakers." me? a troublemaker? just because of how i was born? my daddy that -- got a cowboy hat and cowboy boots. board rogers was coming to town -- roy rogers was coming to town. it was for white kids only. why? they think we are troublemakers? i do not want to make trouble. troublemaker. just because of how we are born, we have to be troublemakers. that is when i looked and saw ms. hamilton getting on the bus.
that big fight, brown versus the board of education so all the black kids can get an education. [inaudible] the books have pages missing, and they all have things written inside of them. at the main library, we have a demonstration going on. [inaudible] how come we cannot use that facility? they cannot even get a good job and fair pay. men, they come up missing. rape -- they do not want to talk about that, but if it is a white woman, it is on the news, on the radio, on television. i do not want to die like that.
so i'm going to stay black and die. if i could do one thing -- >> i told you, you need to move on. do i need to get the police?" >> sir, i picked -- "sir, i paid my fare. it is my constitutional right." the driver gets off the bus. police officers come. they are at the back door. "i had trouble with this girl before." "the two of you need to get up. you know it is against the law."
open " i paid my fair -- "i paid my fare. if i move now, i will get sick. i'm pregnant." there is a volunteer. i think he was sensing there was going to be trouble or something. ms. hamilton, she got up and took his seat. "officer, i did not know it was the law. that is not what the city ordinance said." "get up. get out." "i paid my fare. it is my constitutional right." next thing i know, they were dragging me off the bus, dragging me to the police car.